Indian markets were higher for a sixth consecutive session on Monday, lifted by financial stocks after the Reserve Bank of India issued relief measures for exporters navigating tariff pressures. Optimism around second-quarter earnings continued to drive broader risk appetite.

The S&P BSE Sensex closed up 388 points or 0.46% at 84,950.95. The NSE Nifty 50 rose 103.40 points or 0.4% to end at 26,013.45 re-claiming the 26,000 mark.

Here’s how analysts read the pulse of the market:
Vinod Nair, head of research at Geojit Investments, said the market has maintained its positive momentum as investors expect a strong catalyst for further upside, close to the key psychological level of 26,000.

“Currently, the risk-reward ratio is largely favorable, boosted by stronger-than-expected Q2 earnings from midcaps, which has strengthened confidence in growth revival and points to possible future earnings upgrades,” Nair said.

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US markets

Wall Street’s major indexes struggled for direction on Monday, a busy week that included AI giant Nvidia’s earnings and government data release, while Alphabet rose after Berkshire Hathaway disclosed a stake in the company.

Google-parent Alphabet rose 5.6% after Berkshire Hathaway announced a new $4.3 billion stake in the company and further reduced its stake in Apple. Apple shares fell 0.9%.

Nvidia’s results, after markets close on Wednesday, will test the sustainability of a spectacular rally in AI-related stocks this year, with some investors worried about stretched valuations and signs of a bubble. Shares of the chipmaker were down 1%.

Jefferies tech sector specialist Jeff Favuzza notes that the options market suggests a 6% move in either direction for Nvidia’s earnings after.

European markets
European shares were slightly lower on Monday, as investors avoided big bets ahead of a long-awaited US jobs report that could shed light on the health of the world’s largest economy.

The pan-European STOXX 600 faltered between modest gains and losses and was last down 0.17% at 573.95 points.

Tech View
Rupak De, senior technical analyst at LKP Securities, said the Nifty moved ahead after a few days of consolidation on the daily timeframe, adding that it is holding above the 21EMA, a crucial short-term moving average.

“The RSI is in a bullish crossover on the daily chart. Further, a higher bottom formation indicates a bullish market. In the short term, the trend is likely to remain strong, with a move towards 26,200/26,350. On the downside, support is placed at 25,800,” Dee said.

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Most active stocks in terms of turnover
Narayan Hriday (Rs 2,578 crore), HDFC Bank (Rs 1,828 crore), Bharti Airtel (Rs 1,268 crore), Tata Motors PV (Rs 1,208 crore), Infosys (Rs 1,188 crore), Glenmark Pharma (Rs 1,155 crore) and 4 crore (R) were the most active on the BSE. BSE in terms of value. High activity in a counter in terms of value can help identify counters with the highest trading turnover in a day.

Most active stocks in terms of volume
Vodafone Idea (shares traded: 91.18 crore), Yes Bank (shares traded: 15.68 crore), Segility India (shares traded: 9.85 crore), IRB Infrastructure Developers (shares traded: 9.79 crore), Canara Bank (shares traded: 4.6 crore), Suralon shares: 4.6 crore (3.60 crore) and Reliance Power (traded shares: 3.56 crore) was among the most actively traded stocks on the NSE in terms of volume.

Stocks show interest in buying
Shares of Narayan Hruday, MRPL, Jubilant Ingravia, Hudco, Just Dial, Alembic Pharma and India Cement were among the stocks that saw strong buying interest from market participants.

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52 week high
Over 177 stocks touched their 52-week highs today while 191 stocks slipped to their 52-week lows. Among those touching their 52-week highs were Asian Paints and SBI.

Selling pressure is seen in stocks
Among the stocks that saw significant selling pressure were Tata Motors P.V.
Ultratech Cement, Asian Paints, Tata Steel, Adani Ports SEZ, ITC and TCS.

Sentiment meter bearish
Market sentiment was bearish. Out of 4,497 stocks traded on BSE on Monday, 2,211 stocks declined, 2,082 stocks gained, while 204 stocks remained unchanged.

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(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not represent the views of Economic Times)